Retail premises for sale in Warden's Reach, 39-40 Woodgrange Road, Forest Gate, Newham E7

Offers over £5,900,000 (£383.32/sq. ft)
Interested in this property? Call +44 20 8022 4551 * or Request Details

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Retail premises for sale

15,392 sq. ft*

Property description

Key Points

  • Let to Lidl Great Britain Limited, Scoffs (Essex) Limited guaranteed by Scoffs Group Limited t/a Costa Coffee & Local Independent Beautician.
  • Practical Completion due December 2023
  • Combined Rent roll of £330,000 per annum
  • Virtual freehold (999 year long leasehold interest at peppercorn)
  • At Practical Completion the scheme will have a Weighted Average Unexpired Lease Term (WAULT) to Lease Expiry of 22.5 years and 17.4 years to Tenant Breaks
  • Offers invited in excess of £5,900,000, representing a Net Initial Yield of 5.25%, assuming standard purchases costs of 6.622%

    • Description

    A prominent long let foodstore led investment in Forest Gate, an affluent and emerging East London commuter suburb with great transport
    connections to Central London. The retail investment forms part of Warden’s Reach, a highly sustainable mixed-use development under construction providing 74 residential apartments. Clarion Housing Group has developed this scheme with 3 commercial units at ground level, forming a brand new, well-configured foodstore led retail scheme comprising 15,392 sq ft (1,430 sq m).

    Location

    Set in the thriving London Borough of Newham, Forest Gate is a vibrant district of East London. 1.5 miles east of Stratford and its wide range of amenities including Westfield Shopping Centre and the Queen Elizabeth Park, and 5.5 miles northeast of the City of London. Forest Gate continues to develop as one of Newham’s most popular residential areas due to the range and quality of housing stock and the close proximity to numerous leisure
    facilities and Epping Forest to the north.

    Availability_Text

    The accommodation comprises the following areas:

    Property info

    * Sizes listed are approximate. Please contact the agent to confirm actual size.

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    Strettons City & City Fringe, EC2A on +44 20 8022 4551 * (local rate)

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    Disclaimer

    Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Strettons City & City Fringe, and do not constitute property particulars. Please contact Strettons City & City Fringe for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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